Senior Housing News July 24, 2024
When Christian Horizons CEO Kate Bertram took the reins about a year ago, the nonprofit was still grappling with its pandemic recovery. Those challenges eventually culminated in the organization filing for Chapter 11 bankruptcy and planning to restructure.
The St. Louis-based organization lost as many as a third of its new residents and short-term rehabilitation patients in the early months of the Covid-19. At the same time, workforce woes ran up the cost for staffing.
“The pandemic was the impetus for exacerbating our use of cash,” Bertram told Senior Housing News.
When it declared bankruptcy, Christian Horizons had around $75 million in outstanding debt. The organization is now in the process of finding buyers for its 12 communities in Illinois,...
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